Health Spending Account Canada
Save Thousands on Health and Dental Costs, Tax-Free
A Health Spending Account (HSA) lets your corporation reimburse you for personal medical expenses, tax-free to you and tax-deductible to your business.
If you're incorporated and pay for health or dental costs out of pocket, you're leaving money on the table.
Hiveworks makes it easy to get that money back, with a CRA-compliant plan designed for Canadian business owners.
Why Use an HSA?
- No monthly fees or insurance premiums
- Reimburse 100+ health and dental expenses
- Set your own limit (up to $15,000)
- Include your spouse and dependants
With Hiveworks, you only fund the plan when you make a claim. Everything is digital, compliant, and fast.
How It Works
- Pay out-of-pocket: Use your personal funds for a health or dental expense, just like you normally would.
- Submit your claim: Log in to Hiveworks and upload your receipt. We’ll check that it qualifies under CRA rules.
- Your corporation pays: Hiveworks sends an invoice to your corporation for the eligible expense amount.
- You get reimbursed: Once your corporation pays the invoice, the funds are sent directly to your personal account tax-free.
Typical turnaround: 3 to 5 business days. No paperwork. All digital.
What Can You Claim?
Over 100 expenses are eligible, including services from more than 50 types of licensed health practitioners.
Some examples:
- Dental: cleanings, fillings, braces, surgery
- Vision: eye exams, glasses, laser eye surgery
- Therapy: psychologists, social workers, speech therapy
- Medical: prescription drugs, medical devices, orthotics
- More: chiropractic, acupuncture, naturopathy, massage
How Much Can You Save?
Example:
If you earn $150,000 annually in Ontario and spend $6,000 on health expenses in a year, you could save over $3,700 by using an HSA instead of paying out of pocket.
The higher your income, the more you save.
Why Hiveworks?
We built Hiveworks for business owners like you, because we are business owners like you.
We’ve dealt with the pain of out-of-pocket health costs and built a better way to manage them.
- Designed for incorporated Canadians
- Fully aligned with CRA’s PHSP rules
- Claim multiple expenses at once
- Add your family at no extra cost
- Get reimbursed by direct deposit
No paperwork. No hidden fees. Just one clear annual price.
Who Can Use a Health Spending Account?
You’re eligible if:
- You’re incorporated in Canada
- You earn T4 income from your business
- You have no arm’s length employees (or use class-based plans)
- You want to cover yourself, your spouse, and dependants
Are HSAs CRA-Compliant?
Yes. Hiveworks plans meet the CRA’s definition of a Private Health Services Plan (PHSP). That means:
- A formal plan is set up and locked for the year
- Every claim is reviewed for CRA METC eligibility
- Your corporation receives a full invoice for deductions
More on CRA and PHSP compliance
You Can’t Backdate Claims, Start Today
You can only claim expenses dated after your HSA start date. If you're paying for dental, therapy, or prescriptions out of pocket right now, you're missing out.
Sign up once. Use it anytime.
Calculate Your Savings and Start Now
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